Didi to Slash Up to 20% of Jobs Before Hong Kong Listing

(Bloomberg) — Chinese ride-hailing giant Didi Global Inc. plans to reduce its overall headcount by as much as 20% as the troubled tech firm pushes ahead with plans to transfer its stock-market listing to Hong Kong, people with knowledge of the matter said.

Most of the company’s core businesses will be affected by the cuts, which are aimed at reducing expenses ahead of the Hong Kong listing, the people said, asking not to be identified as the information isn’t public. Ride-hailing may see staff reductions of up to 15%, one of the people said, though drivers — gig workers who aren’t officially included in the company’s headcount — won’t be affected.